Under the licence agreement with Delhi International Airport Ltd (DIAL), GMR Hospitality will design, finance, develop, set up, operate, manage and maintain the outlets for an initial period up to May 2036. The agreement may be extended by another 10 years.
The licence fee will be paid to DIAL under a revenue-share model, based on the year-on-year revenue generated by the food and beverage outlets. GMR Hospitality will also pay a minimum monthly guarantee and advertisement fees.
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The estimated aggregate licence fee is around ₹49 crore for FY2026-27 and ₹109 crore for FY2027-28. The company said the promoter, promoter group and group companies do not hold any interest other than their existing direct or indirect shareholding in DIAL and GMR Hospitality. The transaction is a related-party transaction on an arm’s-length basis.
Back in May this year, GMR Airports is targeting 4–5% passenger growth in FY27, even as geopolitical disruptions and air traffic challenges continue to weigh on the aviation sector.
The company expects the first half of the fiscal year to remain relatively subdued, but anticipates an improvement in momentum in the second half as travel demand normalises.
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Saurabh Chawla, Executive Director (Finance & Strategy) at GMR Group, said the growth outlook will be supported by the addition of new airports, including Nagpur and Bhogapuram, which are expected to strengthen passenger traffic across the network. The company also remains confident of sustaining its profitability momentum after turning profitable in FY26.
Beyond passenger growth, GMR Airports is sharpening its focus on its non-aero business, which has emerged as a key earnings driver. The group is also looking to unlock greater value from airport-linked real estate, with plans to evolve it into a more meaningful business vertical over time.
Shares of GMR Airports Ltd (India) ended at ₹99.05, up by ₹1.02, or 1.04%, on the BSE.
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